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funding gap emerging markets
Mongolia

Enkhtuya

  • Golomt Bank
  • Invest in a Financial Institution
  • + 124 other investors
  • With a loan amount of EUR 49,900, Enkhtuya and her husband will be able to expand their shop and sell variety of construction materials.

    €49,900
    Amount
    3.00%
    Interest
    48 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€49,900
    Interest3.00%
    Maturity48 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 7 days on 31 December 2018.

      Summary

      Enkhtuya runs a family business with her husband since 2006. Their business began with real estate rent and leasing in Dornogovi province, and they established their own real estate company “Dorny Ulemj” LLC in 2008. Later in 2011, Enkhtuya and her husband broadened their business by opening a construction materials store, and it has been successfully operating since the launch. Now, Enkhtuya and her husband work together at the store as sales assistants.  

      Dornogovi province is located at the south east part of Mongolia and is situated 480 km away from the capital city of Ulaanbaatar. Dornogovi province is one of the biggest trade zone of the country, as the major train port is located in the Sainshand city.

      In recent years, apartment and infrastructure construction have been significantly developed in the province, so the sales of construction materials has been also increased. Therefore, Enkhtuya plans expand the current construction materials store and to build a new big store with 192 square meters. By launching a bigger store, the family will add broader variety of inventory to meet the local demand. Also, she will hire 2 more sales assistants for the shop.

      With a loan amount of MNT 150 million, Enkhtuya and her husband will be able to expand their shop and sell variety of construction materilas.

      Company nameEnkhtuya
      CEOEnkhtuya Dondov
      Founded2008-12-19
      LocationSainshand, Dornogovi
      SectorWholesale / Retail
      Turnover€77,525.83
      Employees2

      Impact

      Small and Medium Enterprises (SMEs) are important contributors to job creation and economic growth in emerging markets. However, access to financing is a key constraint to SME growth, as about half of them don't have access to formal credit. In Mongolia, Golomt Bank serves nearly 80% of the corporate market. They were the first commercial bank in the country to issue small business loans. Golomt Bank accelerated the development of mobile banking in Mongolia by introducing smart banking services in the local financial sector.

      Financial support enables Mongolian entrepreneurs to increase their professional activity, resulting in job creation and improved living conditions.

      Golomt Bank is a member of the United Nations Environmental Program Finance Initiative (UNEP FI). This partnership helps create a financial sector that serves people and the planet and mobilizes private sector finance for sustainable development. The bank has a "Sustainable Development Policy" in which they implement the SDGs in all its operations. For example, improving their waste management, increasing the number of roads for wheelchair users in their offices, and cooperating with environmentally friendly organizations.

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No Poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

      • With this investment 2 jobs are created
      • With this investment 8 lives are improved

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      We have already contributed to Enkhtuya

      Jan van Munster
      Marco Mansveld
      Lamar Crombach
      Willem van Wingerden
      Trees van den Hoogen
      + and another
      124
      investors